>> it is almost 11 :00 a.m. in singapore shanghai. here are the top stories. asian stocks trading -- treading water. the yen remains under pressure despite japan stepping up verbal interventions. china and the eu agreed to hold talks on the plan to impose tariffs on electric vehicle imports. and we hear from the ceo of mitsubishi have the about plans for nexgen nuclear reactor tourists and competing with spacex. investors on watch on edge trepidation not just equity markets but ethics space and avril hong in singapore with the latest. >> a cautious move the markets in this part of the world as we

anticipate those numbers from the u.s. but i think it is also a tech story that is coming through infotech sector leading declines and chipmakers are among the biggest contracts on asia's stop gauge engine lower from the third session and this is after nvidia pullback late last week we did spend long time as the world's most valuable stocks that we are seeing among the ones that are leading the declines the kospi, hang seng showing the decline along with stocks on the mainland csi 300 off by half a percent shanghai, him touching the lowest level since this february and declines in the onshore yen worth noting as well given the story of the dollar resilience we are seeing the pboc coming through today as well with a fix above 712 the highest level since november so worth keeping in mind as we take a look flip the board at some of

the other asian currencies as i say it is a story of dollar resilience on this week it is not just about pc numbers so forget it is also with concerns about political risk in europe, especially france, and we are not seeing that much of move on the peso but do not forget they are not far from the record highs. the levels to watch are here. with the u.s. yen we thought -- investors digesting the boj summary of opinions that showed one board member seemingly to suggest we could see a hike in july a bit of a pullback following that on the japanese currency moving away from the 160 level has. >> that is right it is about

rate differential. avril hong thank you. let's get more on markets with our next guest two things the yen remains under defensive due to the high yields deferential. when it comes to the yen really what is there to do, you might as well wait that ppo see japan wait that pboc japan weight because it is about the fed. >> it is it is not just about the yen decline, it might be more a story of dollar strength and that is really coming from the fact that the recent macro data in the u.s. is so strong in some ways that you really do not expect a rate cut any time on the horizon so a lot of the currency pairs like the dollar yen, you see the yen decline. it's been the path of least resistance for the yen for quite some time so we do not expect to really an intervention anytime soon, it seems like the

technical break could be the one. the thing i am looking forward to is that when the boj intervenes, they did it via funding it by selling treasuries. that is the case with foreign reserves data indicating and that is important because we are living in a rate driven world and that puts upward pressure to the u.s. rates so that is really what my concern is looking at the world from that lens. >> in terms of currency pairs, how do you play the yen and where do you get the most of the is in the currency? >> i think the weakness is driven by the fact that as we were talking, the other parts of the world have probably had a much more powerful force when it comes to elation. it is hard to japan to have inflation but the forces are not as powerful as in the rest of the world, especially when looking at it from the u.s. perspective. so the fed, ecb had to increase

rates much more aggressively last couple of years than what you saw from the boj and i think that is probably one of the reasons why we see it. the other thing is in japan we see the wage negotiations, the higher up to an income that has not really translated much to consumption data. i think that is a big difference in the u.s. where the income effect is translated into a higher degree of consumption and propensity to consume in the u.s. is quite high compared to asian economy especially japan. >> is it safe to say the euphoria over japan has dissipated? foreign funds are pulling out money for the last four weeks in a row. it is not just a matter of taking money over the table locking in profit or is it more? >> i think it is more for tactical play. i look at the way we manage accounts for our clients. i think you can see the run-up has been quite strong with the

nikkei the last couple of years. same with the u.s. stock market. given the cautious approach of the boj and what is happening in the fx market, beyond the tactical basis at midyear you want to rebalance the portfolio but i do not think the structural mid to long-term story for japan has an underlying swing on the positive and has changed much so we are still slightly over it on the japanese call versus neutral location. >> as much as we do not expect actual intervention, the possibility is still there and should it happen japan would perhaps to sell holding treasuries to funds intervention in the yen. what are the implications of that? we already see china selling holdings in treasuries as well. >> if you are a dollar owner of the good thing is there are other players entering and buying u.s. dollars so even though two of the biggest

foreign reserve holders, japan and china, are somewhat lightening up on location, there were other players entering that keep the dollar on a relatively high footing. irving said that i think that is something one should take note of because there is a way of finding these sort of interventions that usually comes from a dollar a selloff. in an election it also plays a big role because the incumbent administration i think would like to see a little bit more of a rates on a more favorable site for the markets and i think that goes against what the administration might want to achieve because when you have more supply of dollars obviously a puts upward pressure on yields. >> how long can the strong dollar persist? this story was supposed to wrap up by the end of last year and has still persisted. how much longer will the stellar stay strong?

>> the gain is a function of how strong the data is. we have started to see some >> appearing in when i look closely would be the labor market statistics because that is where you start to see the first leg of softening of the economic data hence the unemployment claims number, the jobs turnover data, we have started to see the interest-rate sensitive nature of the markets have started to soften up a bit but the services aspect is still very strong in the u.s. so at some point at cautious ability and we see it from some reports as well that people are getting price and value conscious, those of the kinds of things you would like to see which would give credence to fed to start moving into cutting which we did not think was going to happen at the july meeting most likely september for the rate cuts spirit -- cuts. >> there's so much noise. what do you take seriously?

two political concerns, a lot of elections, data all over the world. what is noise and what is not? >> a lot is noise. if you look at opinions it can be a little unnerving if you are an investor but if you look at facts, facts are quite positive and i think if you were not -- if you are focused on the facts you need to go to the source. facts tend to say the post-pandemic era, this is an unorganized decade in the business cycle is a little off compared to the way it used to be and we are in more of a yield curve in the u.s. and there is no talks of even a slow down so it just tells you that things are a bit different this time around so you need to be a little bit more cautious in your approach but still be constructed because we have some really powerful forces lake ai and decarbonization that are changing and bringing animal

spirits back to the market. >> our guest is sticking around. it still ahead, the inclusion of indian government debt in jp morgan em bond index is coming and we discuss implications for investors with asset managers. this is bloomberg. ♪

>> china and the eu have agreed

to talks on the plans to oppose tariffs of electric vehicle imports. our correspondent has details from hong kong. what are the expectations for the talks? >> according to chinese state links media the best expectation is for the eu to lift the tariffs before july 4, the deadline when provisional tariffs will kick in but that is very ambitious so perhaps the more realistic deadline is the one in november when the final tariffs will be decided and it's a window china has to to work with european partners to convince them to get the eu to overturn the tariff policy and the german vice chancellor in china this weekend on playing expectation saying it is impossible to resolve the conflict while in china and he cannot negotiate on behalf of the eu even though germany has a

-- has been a strong critic of the tariffs saying it could spark a trade war and over the weekend we saw the chinese commerce minister having a video call with his counterpart and the talks were supposedly constructive and there could be more in the coming weeks but any expected outcome will have to address what he calls injurious subsidies. >> transport ministers they are today. realistically, how much can be achieved? >> the two sides have already found some common ground when it comes to energy corporation to increase cooperation in state grades and accelerating the transition to green energy but there has been mixed signals by german minister to china because you would expect someone who is

the vice chancellor of germany to meet with someone of similar rank in china but that did not happen and over the weekend he said he didn't know why that didn't work out but he did meet with other chinese officials like the commerce minister and the chair of their macroeconomic planners so there is a push poll dynamic between both sides china saying they are willing to get chinese companies to tap into the german market but they want germany to step up leadership over the eu to get the eu to correct what they call the wrong position. >> thank you for that. let's get back to our guest. we will talk about the impact of different asset classes. to follow up on what was just said, china under a lot of pressure from the u.s. and eu and perhaps canada mulling over

tariffs for electric vehicles being imported from china. how do you play the market when there is so much uncertainty? >> you need to stick with your convictions. i think the trade war, that tariff conflict has been around for quite some time and i think the rhetoric has reached a crescendo given it is an election year for a lot of countries so this inward-looking philosophy has taken root in a way. as a long-term global investor i think you need to look beyond these things because historically speaking if you look at the history of national markets, generally speaking they gravitate towards economy of scale and in the end if you are a low cost producer of something that is a value-added people will buy it no matter where it is manufactured so that is the way you want to position it but that does not mean that for a long time that markets might not be driven by those kinds of

mechanics. >> scale matters and sodas valuation and when you look at valuation in china it is cheap and aberdeen saying china could be a different market versus the likes of even japan. >> that is one of our takes as well. we are looking at a big proportion coming from china as one of our more favored regions for investing primarily because earnings-per-share for some of these countries are much higher than what we have seen the developed world obviously there is valuation play as well buying earnings at a cheaper price at lower entry point should help long-term investors and i feel that what really needs to happen is a rekindling of investor enthusiasm comes to asia. look back 15 years worth of data the markets 3.5% up, u.s. up almost four times over so it is difficult to move that sentiment in the short time but ongoing

policy actions from government, better corporate governance, these kinds of things really matter and in due time i think you will see markets catch up to developed counterparts. >> people are asking why bother with em when the risks are so high? in the u.s. the economy is resilient as much as much as we talk about a slowdown. >> you will not get a telegraph or saying the markets have switched i am not saying they have lost their preeminent position. to the contrary, the u.s. really generates a lot of fun flows and excitement. having said that, i feel that just because something hasn't performed in the last 15 years does not mean you should turn away from that particular asset class because these dislocations have happened in the past that can last 15 years are equitieso

go? perhaps the stop bull run has little upside left in 2024. your take? >> risk reward is asymmetric. what helps investors is the fact that on the fixed-income side you can have a decent proportion of your return come from that perspective so i would say you look at the target for us in terms of equity markets, it is more jamaat -- more benign than what was expected a few years back and that is driven by the fact that the pe multiple is at a level we do not expect to go further up so there is curtailment but the earnings are still doing well. 8%, 10 percent earnings growth. that should relate to a average year. an average election year is around 11.5% s&p return. as we speak today s&p is already up 14.5% so we have already done

an above average year for an election year so from that perspective we are not euphoric but somewhat constructive for the next 12 months. >> mliv pulse results of whether the s&p is overpricing credit, more overpriced than gold. your thoughts? >> likely overpriced but not necessarily out of the realms of where we see the rates. as i have been saying in some earlier comments, we are living in a macro world. it is the rates that decide and dictate the equity market and i think as long as the next rate move from the fed will be a cut, i think the markets take a positive from that. apart from that, the mixed economic picture, it has been relatively good mixed but that is a strong tailwinds and then the aia's story makes the s&p which is highly digital index run its course so i think there

are lots of positives for the equity markets to stay resilient but the investor should not rule out some kind of correction because it has been a year since we had a call back of any substantial nature. >> how deep might the correction be? >> 5% to 10% would be normal in the late summer. at hundred days prior to an election you see volatility picked up i would not be surprise, july is a strong month but in october or -- august or september you will see some revisions and anxiety among investors and you will see a pullback. >> i think a lot of investors have been surprised by how gold has done. how much more upside for gold? >> there was enough room for it to go a bit more. our 12 month target is $2600 an ounce driven by the fact that central banks are increasing allegation to goal. commercial -- allocation to gold. commercial demand is picking up.

those are positive tailwinds. the rate cuts on the horizon so the real rates are going down. the opportunity cost of owning gold goes down so that move some into gold and the geopolitical risk premium, living in a conflict world and that helps the gold cushion helps a lot. >> if i had $10,000 and want to put it in one asset class or one stop, what would it be -- stock, what would it be? >> my domicile would tell you to buy u.s. stocks but given the price levels i would say to consider emerging markets. in my not be a bad place. emerging market equities. that would be my take. >> what kind of return could you get? >> slightly better than what you would get in developed markets for the next year. >> ok. thank you so much for that.

all things markets. breaking here. bytedance working with -- to advance ai chip according to reuters saying the chip would be compliant to u.s. export restrictions on manufacturing work would be outsourced to tsmc and taiwan. bytedance working to develop an advanced ai chip with broadcom. plenty more ahead. this is bloomberg. ♪ the promise of this nation should extend to all from new york to new mexico, from alaska to alabama.

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>> u.s. prosecutors have recommended it to senior justice department officials that boeing face criminal charges for violating a settlement related to fatal crashes according to reuters. the criminal charges doj officials consider were not specified and could extend beyond the original 2021 fraud conspiracy charge. a court has adjourned to the liquidation hearing against kaiser group to august given the developer more time to work on restructuring plan. they defaulted and onshore bond payments in 2021. three other chinese builders face similar hearings in hong kong this week. let's look at how kaisa is trading in hong kong. it defaulted to years ago trying to resist liquidation dropping

the final fight by eight percent midyear realistic holdings company surging 68.8% and we are watching haidi allows shares dropping on the back of the ceo resigning of course we have the ceo resigning in a surprise move. highly lau international dropping and broadcom related stocks looking mixed with taiwan semiconductor down 2.5%. plenty more ahead. this is bloomberg. ♪

>> china markets just heading to

lunch look at where we are in terms of csi 300 index negative territory with the selloff continuing as policymakers show no urgency to roll out more stimulus that government said in a speech that will be no massive easing and rejected the idea that potential trading of government bonds is tantamount to qe in terms of other benchmark shanghai com coming down 7/10 of 1% lowest since february. you on trading at 72615 the fixed today above 712 which we have not seen in a long time perhaps indicating pboc is quite comfortable with a weaker currency especially on the back of differentials you just wait on the fed markets in japan inching ever slowly from the lunch break avril hom on top of developments. >> japan stocks not faring as

badly as the rest of the asia-pacific and i guess that is the silver lining. the nikkei and topics extending gains from earlier in the session. a couple things we are watching out for when it comes to the currency pair, we hear the dollar story as you said we watch more for the fed i guess but interesting how the dollar resilience today is also coming against the backdrop of political risks in europe as well as softer european [indiscernible] so we are seeing the yen than other asian currencies taking a bit of a hit for the japanese currency traders among things to watch tokyo cpi expected to show a pick not perhaps make the case for tightening normalization a policy from the boj and we also got the summary of opinions from the most recent meeting on one of the board members saying the

july hike might be possible because the upside risk to inflation seems to be getting more noticeable they should move before it is too late so that's among the things investors are watching let's hope the board and take a very quick look at what is behind the moves in these japanese-style gauges the chip stocks are not doing that well tracking the decline on nvidia toward the end of last week, the pullback from the record highs but is the automating shares are helping support the gauges and this is against the backdrop of the japanese yen weakness let's look the board again to see what we see in the yen just because it reached a level that is thought to have prompted intervention earlier in the year and that was don't forget a very ask pensive undertaking with record amount spent by the yen and this time around though despite the verbal talking from the top currency chief it does not seem to be helping that much and might be something to keep in mind because as we see the really

expensive endeavor earlier in the year may be traders are taken because it may make more sense for the finance ministry to wait for dollar yen to move to fresh highs for this cycle before responding and perhaps get more bang for their but -- buck has. >> yen holding steady even after the latest warning of possible intervention let's dig into those comments and more with mark cranfield. they said they will intervene 24 hours a day if needed but they haven't >>. >>i'm going to set my alarm clock. in the last two months we have had two boj meetings and a record amount of yen buying and we are almost back to exactly where we were so boj twice has

missed the opportunity to convince traders they really want to support the yen. the intervention itself was pretty ineffective. so now here we are today and traders are probably thinking you need to do a lot more to make us think the yen is the right currency to buy. >> if it does intervene, what level would make sense? >> they had some success when they intervened around 160 because the timing was good so it often helps to wait for a little upward momentum in dollar-yen where fresh money is coming into by. those of the most vulnerable. if you intervene against a moving market, those who come in late reverse most quickly. let's say today the pace of dollar-yen we saw rise during the new york sessions. that's an ideal time to hit the market just as they get over excited about yen weakness.

if we see a slow drift higher they might sit back for some time, it may hundred 64 is the point. -- 164 is the point. >> how do you look at the currency? >> the picture is not just about japan, it is also what is happening outside. that's the wonderful thing about currency market it not one-sided like a stock market. it has to be valued against something else or a number of other currencies. looking at the biggest factor against it is the u.s., the u.s. economy is doing extremely well, interest rates are kept higher for longer, there were many reasons you would want to hold the u.s. dollar and continue to. on the flipside, sharp -- short-term yields in japan ours so low even after that hike in march. it is one in other places as well so there is not much reason

short-term to own it japanese yen if you look at the u.s. dollar or euro they are better alternatives for now. >> which currencies are most at risk? [indiscernible] trying to anticipate the asian currencies that will be hit the most like the peso? >> japanese currency has been week for an extended time so it helps in certain export markets, some of which directly compete with south korea and china so it is no surprise those currencies would come under pressure. chinese central bank has allowed the currency to go a little weaker and it will be hard to turn that around as long as the yen stays week. then you have the emerging market space which is already coming under pressure as the dollar got stronger. we had recent elections in mexico and south africa that did not go exactly as investors

wanted. so the emerging-market world is filling strain of this will not help. if you see big currencies like the yen and you one on the defensive the sentiment will spread to the rest of the emerging-market and it will be a bumpy third quarter. >> looking at the second half of the year, is there reason to even put money in emerging markets in asia for the matter if japan is no longer attractive, china is a nonstory come up why should investors pull money out from u.s. to put in asia? >> it would be hard. you go with the flow and where momentum is. clearly it favors the u.s. at the moment and has outperformed expectations because of the ai story. why would you move your money away? it will need positive changes in the asian space, particularly with currencies. there might be traction for stronger asian currencies the

money might come back but until then there are very good reasons to stay with the u.s. dollar. >> the markets are focusing on fed speak. is that a game changer? >> probably not enough for near future but the numbers are watched on a longer-term basis. earlier in the year they saw them come down but they never reverse so they will be cautious which is part of the reason they are only going for one cut by the end of the year. it would need a lot to convince them to even go for the single cut in the fourth quarter. the number needs to stay low for some time. >> they have changed the forecast many times already. mark cranfield, thank you. shares of mitsubishi heavy industries have doubled this year. the company's told bloomberg they finished designing a nexgen nuclear reactor, paving the way for construction to begin as japan shifts the energy focus to develop more atomic power.

he sat down with the shery ahn in tokyo to discuss the outlook and role in japan's spatial ambitious -- ambitions. >> the annual worldwide power outlook was recently estimated to be 40 gigawatts. now that figure is expected to increase to about 50 gigawatts as the need for data centers gross and ai expands. we are developing a business structure to the respond to the increase. shery: we see a veering away from fossil fuels. do you expect that to impact your gas turbine business? >> gas turbines will grow going forward and they will be combined with carbon capture, hydrogen combustion, and so on. nuclear power is a valuable

power source in the context of carbon neutrality so i think it will be necessary to a certain extent as well shery:. you are japan's largest defense contractor and developing a stealth fighter jet with companies from the u.k. and italy. do you expect more of such projects given the increasingly complex geopolitical environment? >> if necessary, it will be discussed in the context of how to protect the security of allied countries. based on the demand of national and regional security. it will first be discussions on what kind of equipment will be needed in the region. it is difficult to speculate on whether there will be more demand in the sector. shery: you have an upcoming launch of the h3 rocket. how much -- how important is your space transport businesses in the broader sense? >> it's not a large part of our

business. but i believe it is a very important field for japan. we would like to make a strong commitment to the business. shery: you have talked about partial or complete reuse of the h3 rocket. how well do you expect to be able to compete with reusable rockets from spacex? >> reusable rockets will be the focus of research and development in the future. but we are not at the stage of developing anything concrete right now. in the future we would like to build a rocker -- rocket that can compete with spacex. shery: you have talked about how important the space projects are for japan. the national space agency has had many setbacks. what is needed in order to move

space ambitions forward? >> that's a difficult question. it is important to expand industrial base by increasing the number of lunches and expand the loot use of constellations and a satellite. it is also important to find balance between the public and private sectors. >> that was the ceo of mitsubishi have speaking with shery ahn in tokyo. coming up, india's upcoming government debt inclusion in jp morgan's em bond index. this is bloomberg. ♪

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and they don't "circle back" they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety- clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. >> welcome back. you are watching nds focus just under two minutes to the trading day starting in india futures pointing to a lower open they in mind markets hating near record expert saying it could face roadblocks in [indiscernible]

euphoria we are seeing in the markets driven by retail investors now traders are preparing for this week's inclusion of indian bonds in the emerging-market index and inflows have hit $10 billion since the announcement in september. for more on the impact we are joined by investment and strategy ceo at [indiscernible] which manages 9 billion dollars across various asset classes. good to have you with us. >> there is already anticipation of the inclusion which is now just a few days away. the foreign portfolio investment buying has been pretty solid and this is a journey you will see a

staggered way in which the inclusion is going to be consummated with what is a threshold of 30% this will be a gradual movement towards the next 12 months and therefore our view is the flows which is actually waiting for the index inclusion to actually happen is yet to be consummated so yes it is a good start but we believe we are not yet done. >> in terms of inflows, how much more are you anticipating and how might it play out in the indian markets across asset classes? >> so to give you a perspective, if you see in the filing of 2023 [indiscernible] by foreigners was a little under $7 billion and as we speak right now the six-month is not yet formerly over we have already crossed that numbers so our

sense is we could see pretty much a similar kind of amount getting into the bond markets over the next six months and of course we must keep in mind december is typically a lead month so i think it is a positive development and we believe 10 continue to be more resolute than in the past. >> how do you play the indian bond market, what is the most attractive by out there? >> tradition is our clarion call and we are talking about it now for the last three quarters that continues to be the view right now so adding duration on the portfolio and adding the bonds beyond the 10 year which is that 15 to 20 years segment seems to be the best value for the bulk right now.

>> given the interest to have just mentioned, you have to wonder where yields would end the year. what is your take on the softening of the yields on what number are you looking at? >> we are at just about 7% currently. over the next three or four quarters could we see an easing of at least 40 basis points taking you closer to the 6.5 region, the answer looks to be in the affirmative and i must also add that the rate cut for the impending rate cut in the u.s. or for that matter in india has still not started falling manifesting in the bond yields so that is an added layer of possibility test positivity. >> best case for a fed cut this year is possibly one, some say none. how might that impact the

thinking of the rbi? what is the earliest possible cut that will be made by the rbi? >> if you look at the interest rate it is talking about in india that is it is talking about the first rate cut in canada 2025 which is at least two quarters away so i think that could be a precursor and we got some prelude into the rpi policy where it is working for a rate cut in contrast to one member with the previous policy and the minutes revealed something very similar that the cap of the rate cut only seems to be growing but very unlikely with a very low chance of something like that happening in this calendar year, more so in early 2025. >> what assumptions do you make about inflation?

it seems to be headed lower. is it likely to be sustained? >> if you look at both the elements the decline and the core of course the bank of india headline food prices are slow down but both of these are clearly displaying a softening trend is so even if we may not achieve of 4% threshold which the reserve bank wants, even if we are at 4.5%, rates and india are fairly formidable to allow for at least a marginal easing, if not substantial of so i think the key would be how the fed behaves not entirely but certainly that is one precursor. if not the only condition required for a rate cut in india. >> we know the fed is one factor for the rpi to consider but what about the weather in india?

could that play into the inflation story after the record heat wave india is now bracing for a massive rainfall which may impact rural farming production, might that play into the inflation story? >> so that seems to be the biggest risk in our assumption as i alluded to do so of course food prices in terms of going up and down are cyclical in nature and we are in the midst of one such wave but unless there is something very drastic which happens because of excess rainfall or probably the lack of it and some parts of the country, it looks like there could be as i said we are not rooting for very aggressive rate cuts and that seems to be a significant factor for the central bank to stay put as of now and that is probably also the reason why they have not

actually done us [indiscernible] on the policy let alone the right action so yes a very key factor that we cannot ignore domestically. >> thank you very much for your thoughts today. china moth, urging the u.s. to respect fair competition in relation to the u.s. moving closer to restricting investment in china for chips as well as ai china expressing can serious concern on resolute opposition to this and reserves the right to take responding measures according to the moff calm statement and the u.s. says it it should respect the laws of market economy and the principle of fair competition, stop a little sizing and weaponizing economic and trade issues, counsel investment restrictions in china and create a good environment for china-u.s.

economic and trade cooperation according to china's moff, urging the u.s. to respect fair competition is the u.s. moves closer to restricting investment in china for chips as well as ai. plenty more ahead. this is bloomberg. ♪ ♪ [suspenseful music] trains. [whoosh] ♪ trains that sense what isn't on the schedule.

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>> extreme weather events. the saudi authorities say more than 1000 people have died in this year's pilgrimage as the kingdom faces extreme high temperatures. the saudi health minister says most victims were what he called unauthorized pilgrims walking long distances in the heat to perform rituals. almost 700 of the debtor from egypt. the minister said another 95 were being treated in hospitals. more than 40 have died after heavy rains and floods in regions of china. state media says six people previously reported missing after a landslide have been confirmed dead and another landslide also killed another five. xi jinping has called out for efforts to address the flooding and assist residents.

the u.s. mid-atlantic is struggling under a heat wave with temperatures soaring from new york to washington. central park hit 33 degrees celsius. reagan national airport tied a record from 1988 and more extreme weather could be on the way with forecast of severe thunderstorms and possible tornadoes. in less than two weeks, there is general election. but the trade sectary and shadow business trade sectary will join us for a televised debate moderated by francine lacqua. this is bloomberg. ♪

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